Development of pension and disability insurance
Pension and disability insurance as a part of the social security has its historical development. The pension system of the Republic of North Macedonia has existed for more than 50 years and it is reflected by any significant changes in socio-economic relations.
The Republic of North Macedonia with the Law on Pension and Disability Insurance of 1 January 1994 independently and autonomously initiated regulation of the relations in this area.
This Law was significantly amended in 1995, 1996, 1997 and in 2000, 2001, 2003, 2004 and 2005.
The recent amendments to the Law laid down the foundations of fully funded pension and disability insurance and supplementation to the legal regulation relating to collection of contribution, taking into consideration that the Fund, in a single procedure, will collect pension and disability insurance contributions, control and allocate them between the state and private referring to its implementation.
Implementation of pension and disability insurance
The pension and disability insurance system is implemented through the Pension and Disability Insurance Fund of North Macedonia, which from 1991 is adherent of the former Self-governing Association of interests of Pension and Disability Insurance of North Macedonia.
The Law on Pension and Disability Insurance uniformly regulates the right to pension and disability insurance to all its insurees. Administrative, financial, professional and other matters in the implementation of pension and disability insurance in the territory of the Republic of North Macedonia are implemented by the Fund Professional Service consisting of Central Office and regional units.
The Fund seat is located in Skopje.
Fund’s activities
The Pension and Disability Insurance Fund ensures realization of the development policy of pension and disability insurance, monitoring the situation, taking appropriate measures for promotion of the pension and disability insurance system and for rational use of the funds necessary for securing the rights to pension and disability insurance, the rights to exercise old age, disability and family pensions, the right to transfer to another adequate work place, the right to adequate employment, the right to retraining or additional training and the right to adequate financial benefits, the right to injury-based benefit, the right to lowest pension amount as well as pension disbursement and other rights relating to pension and disability insurance.